The basic skills include a working knowledge of record keeping, financial management, personnel management, market analysis, breakeven analysis, product or service knowledge, federal, state and local tax knowledge, legal structures, and communication skills.

What business should I choose?

Usually, the best business for you is the one in which you are most skilled and interested. As you review your options, you may wish to consult local experts and businesspersons about the growth potential of various businesses in your area. Matching your background with the local market will increase your chance of success.

How long will it take to start a small business?

As long as it takes you to complete your feasibility study, prepare your business plan, gather your money, buy what you need to buy, and arrange your business operation affairs. This could take a few weeks or many months. If you have difficulty with any of these items, the time to learn and solve problems must be added.

How can I get my business certified as minority or women owned?

On a Federal level, Congress considers a minority-owned business as generally anyone other than white. The business must be owned and at least 51% controlled by one or more minorities. Women are not considered minorities. It is a self-certifying process and no paperwork needs to be filled out. To learn more about women or minority owned businesses you may consult the Pennsylvania Bureau of Minority and Women Business Opportunities.

What insurance should I have?

An important aspect of your business is a well-planned insurance program. Types of insurance you should consider are:

Property Insurance
Liability Insurance
Product Liability Insurance
Automobile Insurance
Workers’ Compensation
Disability Insurance
Business Interruption Insurance
Health Insurance
Life Insurance

Should I buy a franchised business to start?

There are some definite advantages to starting out with a franchised business. Of course, there are all different kinds of franchises. Some offer fair value for what you pay and others are rip-offs. Get legal or business counseling advice before purchasing a franchise. With approximately 40 percent of present day retailing done through the franchise method, there must be something very good about it.

Should I buy an existing business to start?

The advantage of buying an existing business is that it is already established in the market. It has customers and is carrying on business. You avoid the hassle and expense of starting from scratch. The trick is making it fit your desires and capabilities. Is it the kind of business you want? Can you afford it? Can you operate it?

I want to start a home-based business. What do I do?

If you are entertaining the idea of having a home-based business, contact your city or county planning and zoning department, depending on whether you live within city limits or not. Contact them before you start the business, not after. They will inform you about the requirements for a home-based business.

Where should I start?

A good place to learn more about starting your own business would be to attend one of the many First Step Workshops that are offered all across Pennsylvania. You may also find out more information about starting a business in Pennsylvania by reading the Starting a Business Checklist.

What form of business do you recommend for a new business?

Each form, sole proprietorship, partnership, or corporation, has its advantages and disadvantages. The one you should pick depends on your circumstances, including:

Your financial condition
The line of business you’re entering
The number of employees
The risk involved
Your tax situation

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